Teva Can Release Generic Celebrex by Year's End

Agrees to Patent Dispute Settlement With Pfizer

Teva Pharmaceutical Industries Ltd. said Thursday it will be able to release its generic version of Celebrex in the U.S. by year's end under a settlement its U.S. subsidiary has agreed to in a patent dispute with Pfizer Inc.

Under the accord, the Israel-based pharmaceutical company can release its generic version of the painkiller—also known as celecoxib—in December, or sooner under some circumstances.